e Banking 4 Project

8/12/2019 e Banking 4 Project

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E-CommerceIntroduction:

Electronic commerce (or e-commerce) encompasses all business conducted by means

of computer networks. Advances in telecommunications and computer technologies in recent

years have made computer networks an integral part of the economic infrastructure. More and

more companies are facilitating transactions over web. There has been tremendous

competition to target each and every computer owner who is connected to the eb. Although

business-to-business transactions play an important part in e-commerce market! a share of e-

commerce revenues in developed countries is generated from business to consumer

transactions. E-commerce provides multiple benefits to the consumers in form of availability

of goods at lower cost! wider choice and saves time. "eople can buy goods with a click of

mouse button without moving out of their house or office. #imilarly online services such as

banking! ticketing (including airlines! bus! railways)! bill payments! hotel booking etc. have

been of tremendous benefit for the customers. Most e$perts believe that overall e-commerce

will increase e$ponentially in coming years. %usiness to business transactions will represent

the largest revenue but online retailing will also en&oy a drastic growth. 'nline businesses

like financial services! travel! entertainment! and groceries are all likely to grow.

Definition.

Electronic ommerce means buying and selling of goods and services across the

internet. An e commerce site can be as simple as a catalog page with a phone no! or it can

range all the way to a real time credit and processing site where customer can purchase

downloadable goods and receive them on the spot.

E-%usiness is the creation of new! and the redesigning of e$isting value chains and

business processes through the application of information technology. aturally! e-%usiness

is more than e-commerce. *t e$pands the scope of e-commerce to transform the company and

the industry itself.

%uilding an ecommerce site involves three stages which are as

follows.

+. Creating Customized Shopping Cart :-

#hopping art is like a store front where you can display your products! catalogue!

price etc. The customer comes to your store through website and selects the item which he


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re,uires! after selection gets completed he will be shown with the total amount to be paid for

the items he has selected. e would be given an option for paying through redit ard and

complete the transaction.

. Approaching Payment Gateway Ser ice Pro ider :- ow the "ayment /ateway #ervice "rovider comes into picture who are authori0ed to

accept credit card on behalf of merchant. *t may be a %ank or Authori0ed ompany who can

accept and process credit card online. They provide us with the payment gateway software

that needs to be integrated with the website to enable secure transaction. The providers are

been certified by 1igital ertified Authorities like 2erisign! Thwate etc which build trust

among buyer and can transact safely.

3. Integrating Payment Gateway with your !e"site :-This is very important part and the last stage of completing you e-presence.'ur Team

at yberweb /lobal #ervices 4td will integrate the "ayment /ateway software with your

website to carry online transaction safely and securely

E-commerce in India

5or developing countries like *ndia! e-commerce offers considerable opportunity. E-

commerce in *ndia is still in nascent stage! but even the most-pessimistic pro&ections indicate

a boom. *t is believed that low cost of personal computers! a growing installed base for*nternet use! and an increasingly competitive *nternet #ervice "rovider (*#") market will help

fuel e-commerce growth in Asia6s second most populous nation. Amongst the Asian nations!

the growth of e-commerce in *ndia between +778 and 993 was highest in *ndia. ridit

4yonnais forecasts that *ndia will have 39 million *nternet users by 99: and that the

potential *nternet market will reach :8 million households in 99;. According to a

Mc+99 billion. *ndian middle class of == million people is e,ual to the entire ?.#.consumer base. This makes *ndia a real attractive market for e-commerce. To make a

successful e-commerce transaction both the payment and delivery services must be made

efficient. There has been a rise in the number of companies@ taking up e-commerce in the

recent past. Ma&or *ndian portal sites have also shifted towards e-commerce instead of

depending on advertising revenue. Many sites are now selling a diverse range of products and

services from flowers! greeting cards! and movie tickets to groceries! electronic gadgets! and

computers. ith stock e$changes coming online the time for true e-commerce in *ndia hasfinally arrived. 'n the negative side there are many challenges faced by e-commerce sites in


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*ndia. The relatively small credit card population and lack of uniform credit agencies create a

variety of payment challenges unknown in the ?nited #tates and estern Europe. 1elivery of

goods to consumer by couriers and postal services is not very reliable in smaller cities! towns

and rural areas. owever! many *ndian %anks have put the *nternet banking facilities in place

for the up coming e-commerce market. The speed post and courier system has also improved

tremendously in recent years. Modern computer technology like secured socket layer (##4)

helps to protect against payment fraud! and to share information with suppliers and business

partners. ith further improvement in payment and delivery system it is e$pected that *ndia

will soon become a ma&or player in the e-commerce market.

hile many companies! organi0ations! and communities in *ndia are beginning to

take advantage of the potential of e-commerce! critical challenges remain to be overcome

before e-commerce would become an asset for common people.

#he $uture of E-Commerce

hat does the future hold for e-commerce Many would say it is difficult to predict. The

forces that determine the web@s winners and losers are &ust taking shape and technological

advances could add even more uncertainty. 'n the downside! some e$perts predict that it will

be increasingly difficult for smaller companies to establish their presence. "ublic companies

and traditional brand name retailers have deep pockets and a name recognition that will make

it difficult for smaller sites and mom-and-pop shops to attract customers! thereby forcing

them to compete with the big boys. 'n the et! it@s one big neighborhood. 'n the upside!

nearly all e$perts believe that overall e-commerce will increase e$ponentially in coming

years. %usiness to business transactions will represent the largest revenue. 'nline retailing

will also en&oy a drastic growth. Areas e$pected to go include financial services! travel!

entertainment and groceries. And for those considering opening a virtual storefront!

forthcoming technology and standards agreements will make it easier to create a site! to

protect it against payment fraud! and to share information with suppliers and business

partners.


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A great way to have a virtual meeting is to upload a document (spreadsheets! pro&ect

plans! etc) on to a web site and enable it to be viewed and edited in real-time through the

*nternet. olding virtual meetings can save significantly on travel e$penses and time.

' 6se the Internet to Impro e %usiness Administrationith a mobile @phone connected to a portable computer! employees working off-site

can access and up-date internal information! such as customer records! price lists! time sheets!

schedules! and &ob reports. "roviding remote *nternet access for staff makes it possible for the

latest information to be at hand! for administrative tasks such as invoicing! employee

whereabouts! and e$pense claims.

&;' Introduce Co((a"orati e !or*ing

ith fast! reliable! and cheap e ommerce communications! it is possible forcolleagues! customers! suppliers and partners! to use collaborative working practices to

manage! share! and enhance pro&ect work! regardless of location.

Disad antage of e(ectronic commerce

The *nternet is very public! and many people hesitate to send sensitive data over the

wires where it might be intercepted by nefarious third parties. %ut with so many

organi0ations e$cited about the benefits of e-commerce! plenty of people are working on

resolving the security issues.

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e Banking 4 Project